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Prevention instead of panic

28.02.24 – Liquidity management and cash flow are crucial aspects of a company's financial management, particulary in light of the current recession. Especially now, companies must assess financial risks and identify bottlenecks at an early stage. Thomas Hartenfels, Senior Director South at Robert Walters, explains how.

Strategies for effective liquidity management in economic downturns

1. Preserve financial flexibility

It is vital for companies to understand their financial capacity, by monitoring their budgets, minimize unnecessary spending, and setting aside reserves for unforseen expenses.

2. Identify opportunities to reduce costs

Companies that regularly review their expenditure and identify areas where costs can be cut will be at an advantage, especially during crisis. This can be done by negotiating with suppliers, reducing operating costs or consolidating resources.

3. Become more efficient

Increasing efficiency across all areas of the company can lead to significant cost savings. This includes optimising work flows, the use of automation technologies and the accompanying training of employees.

4. Invest in digitalisation and technology

Advancing digitalisation makes it crucial for companies to invest in technology.  Investing in technology helps streamline processes and creates opportunities for growth.

5. Adapt business models

Companies need to adapt to changing market conditions by considering new products or services and expanding into new markets.

Hartenfels adds: "In times of crisis, it is crucial to be proactive rather than reactive. Companies that actively rethink and adapt their financial strategies are in a stronger position to navigate economic turbulence. It is essential to identify and manage risks at an early stage to prevent potential problems."

The role of interim experts in downturns

Interim experts play a vital role in adapting business strategies and improving liquidity management during downturns. These experts specialize in optimizing costs and improving efficiency by identifying and implementing measures to reduce expenses. They aid companies in restructuring and adjusting business models to adapt to changing market conditions, provide guidance on implementing new technologies and digitizing processes, develop crisis management strategies and risk consulting, and offer advice on corporate financing and liquidity management.

An essential advantage of interim managers in such scenarios is their availability at short notice. They can swiftly engage in projects, and the outcomes of their work are often immediately evident. This agility is particularly advantageous in volatile times, where rapid adjustments and effective solutions can be pivotal to a company's success.

If you are currently looking for an interim manager or finance talent on a permanent basis to enhance your liquidity management, do not hesitate to contact our experts. Our consultants will promplty assist you in finding the ideal candidate for your specific needs.

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Is your company undergoing workforce restructuring? Let us support you. Our comprehensive and unique career services can positively shape your corporate culture and enhance your organisation's reputation. Our services are designed to be cost-effective by minimising legal conflicts, optimising severance processes and accelerate transformation process. Here you can find more information about our Career Service.

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Find out more by contacting one of our specialist recruitment consultants

Thomas Hartenfels

Senior Director South
Phone:  +49 211 30 180 002

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